Elisabeth the Chef BIMBO backed by Primary
Primary Capital has completed the BIMBO of Elisabeth the Chef (ETC), a high quality manufacturer of chilled and frozen cakes, components and dessert products to the UK multiple retail and food service markets. Established in Leamington Spa in 1928, ETC was acquired by David Owen and his family in 1981. Through organic growth and following the acquisition of Broadheath Foods in 1996, ETC is now one of the UK's leading manufacturers of flour confectionery products. The company employs over 1,000 people at its 5 factories in the Midlands. In 1997/98, the company achieved annual sales in excess of £40 million.
John Gibson (former Chief Executive of Mller UK) has joined the five-strong incumbent management team at ETC as its new Chief Executive. The former Managing Director, Tony Harris, has been appointed Executive Chairman.
Total funding for the deal, which includes the purchase price (undisclosed), working capital and capital expenditure facilities, is in excess of £25 million.
Contact Jackie Adams for more information
Tel: +44(0) 20 7920 4800